Zopa launches Biscuit, a high-reward current account

By Vriti Gothi

Zopa Bank has launched its current account, Biscuit by Zopa. Designed for UK customers, it offers high cashback and interest with a seamless mobile experience to simplify and enhance everyday banking.

Biscuit combines market-leading financial rewards with a seamless, mobile-first experience, addressing long-standing customer frustrations with traditional banking. The typical customer can earn up to £256 per year in cashback and interest, setting a new benchmark for everyday value in the current account space. This launch underscores Zopa’s customer-centric approach, offering a refreshing alternative to the complexity, inflexibility, and low returns that define many incumbent offerings.

The account offers unmatched ease of use from the moment it is opened. Customers can onboard within minutes through a fully automated digital process, receive instant access via virtual cards, and manage all their finances, both Zopa and external accounts, through one unified app interface. With this launch, Zopa customers can also unlock immediate access to Smart Saver, Zopa’s award-winning savings product, as well as its full suite of regulated credit offerings, making Biscuit not just a current account but a gateway to a full spectrum of money management tools.

In 2024 alone, Zopa customers earned over $ 279.13 million in interest across $7.353 billion of savings, earning on average 2.7 times more than those using comparable products at traditional banks. This success, paired with a Net Promoter Score above 70 and a Trustpilot rating of 4.6 out of 5, highlights the bank’s exceptional track record of delivering meaningful value and satisfaction.

Zopa’s strong momentum is reflected in its financial trajectory. In FY2024, the bank doubled its pre-tax profits to $46.6 million, supported by deepening customer engagement and strategic partnerships with well-known brands such as Octopus Energy and John Lewis. Later this year, Zopa will move into its new headquarters, doubling its office footprint to accommodate its rapid growth and ongoing innovation agenda.

Crucially, Zopa operates with a full UK banking license, maintaining the same regulatory standards as traditional banks and offering FSCS protection on deposits up to $1,15,742.38. This foundation positions the bank for long-term sustainability and scale, distinguishing it from many FinTech peers.

Biscuit by Zopa is more than just a current account. It is a manifestation of Zopa’s broader vision, a platform where everyday transactions become opportunities for customers to earn more, save smarter, and manage their financial lives with clarity and confidence. As Zopa continues to evolve, it remains committed to transforming banking from a utility into an experience that empowers and rewards.

Jaidev Janardana, Chief Executive Officer at Zopa Bank, said, “Stepping into everyday banking is a natural next step in Zopa’s mission to build the Home of Money for our customers. British consumers deserve more than the low-interest, high-friction offerings they’ve been conditioned to accept. Our new current account embodies our core promise: products that are simple, rewarding, and designed around real-life financial behaviour.”

Merve Ferrero, Chief Strategy Officer at Zopa Bank, said, “Today, most consumers manage their money across fragmented platforms, spending with one bank, saving with another, and borrowing from a third. This fragmentation leads to inefficiency and lost value. Biscuit is Zopa’s answer to this disjointed experience: a single, elegant solution that delivers safety, strong returns, and usability without compromise.”